Quote from: JayJuanGee on January 29, 2024, 11:38:32 PM

I thought that I mostly already sufficiently explained what I meant, but let me see if I can give it another try.

Ultimately you are in charge of whatever you believe are your parameters for investing or to make your goals.

I think that my main negative reaction to Fuso.hp was the way he was specifically saying that a long term investor needed to have some kind of a specific timeline and maybe some other specific investment parameters at the time that he invests, and it largely sounded too strict to me, even if Fuso.hp might not be completely wrong.

Frequently it is proclaimed that we might be able to predict price or time but we cannot predict both, even though we might create various objectives in terms of timeline and we might even create certain objectives in terms of time, and maybe they might end up crossing over, but there are also circumstances in which we may need to have some flexibility too.

Let's say, that you start to invest into bitcoin, and you also have a real job, and you know that you are going to be quitting that job in 5 years and you are going to take whatever you have in terms of the job and also in terms of what bitcoin that you have at that time and you are going to start to live off of it and you have a specific location that you plan to move and you also have some planned activities and/or work and/or hobbies... and your Plan A will be followed as long as the total is above $1 million (combination of bitcoin and fiat), but if the amount is less than $1 million but it is at least $700k, then you are going to do plan B, which still involves quitting your job, but you have a another job that you will do in order to make up the difference so that you can follow plan A once you reach $1 million. You also might have a plan C that you would follow if the amount is less than $700k but more than $400k.

I don't see any problem with setting those kind of conditions on yourself, as long as you are being realistic about what is reachable and you have various kinds of plans for various contingencies. I just have problems when there are suggestions that you have to have specific plans at the time that you enter into your investment because some of the plans might develop as you go.

For example, you might say that you are going to invest and every year you are going to reassess, and you are anticipating making big changes in your plans after investing year 4, 8 and 12, and you are expecting to reach fuck you status by 20 to 30 years, but you are not exactly sure about what that is going to look like, but your plans to continue to assess every year and that you are likely to make big adjustments every 4 years could be tentative plans that end up working out or you mght make adjustments along the way based on how things are developing, so you cannot really nail down any specifcs from the start because at the very beginning you have hardly any clue about how it is going to go.

Maybe you start investing only in bitcoin at 10% of your income, but you know that would take you 10 years to get one year's salary expenses, so you have plans to increase your percentage and also to increase your income and to cut your expenses, but at the same time, you consider that you have to improve your skills and maybe even go to college in order to increase your income possibilities, and a lot of this takes time and you cannot necessarily know how it is all going to play out right from the start even though BTC could be a part of your plan (and maybe even an anticipated central part of your plan).

From what you've said, I've finally started to see a bit of flexibility in long term investment in bitcoin, I normally used to think that our plans would be fixed in such a way that you cannot change your original plan until a particular time has reached, let's say I plan on investing 10% of my income into DCA and let's say another 15% into building my emergency and reserves since I am still a newbie investor and lests say , during the phase of my initial plan I happened to get an income raise of an extra 500$ on my initial 1000$ weekly income, I Is possible that instead of increasing my original plan, I might decide to rent a house for the sake of getting comfort or privacy or I might even decide to get an extra skill to enable me invest more into bitcoin. And I also believe that DCA I'd the best strategy for lo g term investment cause it offers a very flexible way of accumulating or investing in bitcoin that you can decide to change anytime based on your goals. Like during my earlier investment time, I had tried allocating different percentage for different weekly intervals based on price fluctuations and in a way that makes me feel I'm investing with a little precision, let's say my original plan of 10% in bitcoin weekly and they happen to be a dip on my next week, normally it's okay to lump sum and still DCA but in cases when I didn't plan ahead or haven't built enough emergency and reserves to take advantage of such conditions, I just chuck down my expenses a bit and increase my allocation to maybe 20% or 30% for that weeks dip and back to my original plan if the price goes back up, its all subject to change.

And now I feel I could play around my investment and plans in a way that since I do desire to accumulate a massive amount of bitcoin in my first 4 years, I would be able to adjust my plans and allocations maybe at a yearly interval depending on my progress in investing and any other condition I feel necessary to be meat that would give me a boost in achieving my goal faster, but I still feel If I remove all specifics with respect to time and goal I might not be able to calculate my progress in such a way that I would know if I am doing okay or if I am to improve and add other strategies.

Quote from: Odohu on January 29, 2024, 11:51:34 PM

When the source of funds have been established, then the money should generally be divided into three parts which are for basic needs, for emergency needs and then the part for investment. Each of this should be carefully calculated to be able to get them right from the beginning and when that is done, the journey of Bitcoin investment will become smooth and effortless without the panic and anxiety that many investors exhibit.

I think for a newbie getting these calculations right might be a difficult thing cause speaking from experience the best way for anyone to learn these strategies is to start doing them as soon as possible then on the process of doing so you would better start to the reasons for setting up each of them. Yes and it's also very important that we establish our income in such a way that we are very comfortable with investing in bitcoin and also so that we can take advantage of every Market condition that comes our way. And for a newbie I also think think as important as getting our income, emergency funds and reserves in place its also good we try not to fuck around with our holdings with risky practices like selling to get more bitcoin, cause the market can go against your favour and you would end up buying higher than you sold and also risky practices like trading, it's totally unwise to be rucking around your bitcoin especially in your early stage of accumulating bitcoin, our focus should be on regular and consistent DCA buying until maybe 2 years or 4 years before we decide to maybe go a little aggressive or start trying to be smart about our investment, maybe applying strategic selling to aquire more bitcoin but this should be done with only a minimal amount of our holdings like 10% if possible.